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Ms. O'Mara, whether Amazon, Alphabet, Meta or Salesforce: There is a massive wave of layoffs taking place in the tech industry. Why now? MARGARET O'MARA: I think three different things are happening right now. First, macroeconomic conditions have changed: interest rates are rising. The tech industry is very sensitive to this because while they were low there was a great incentive for investors to put their money into startups and public companies. Inflation is also a factor because it affects consumer purchasing behavior -- a big concern for a company like Amazon.

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